Tempo Bank (IL) Adds Highly Competitive 33-month Hip Pocket CD - Local



Southwest Illinois

Tempo Bank, A Federal Savings Bank (Tempo Bank) just added a new CD special: 33-month "Hip Pocket" Special CD (2.005% APY). The minimum opening deposit is $500 and there is no maximum balance cap.

When asked if the "Hip Pocket" moniker denoted any special condition or terms, CSR replied that it was "just a name to help make the product stand out."

As stated on Tempo Bank’s Terms, Conditions, and Definitions page, the Early Withdrawal Penalty reads as follows:

The fee we may impose will equal six months interest on the amount withdrawn subject to penalty.


While having a rather long and formal name, Tempo Bank, A Federal Savings Bank is essentially a small town, community-oriented financial institution in Trenton, Illinois, 32 miles east of St. Louis, Missouri.

According to CSR, Tempo Bank’s services and product line are available to all residents in the Bank’s lending area (a 25-mile radius extending from Trenton).

Opening the 33-month Hip Pocket Special CD requires a visit to either Tempo Bank branch located in Trenton and Breese. Tempo Bank’s online banking platform provides for account management only.

Bank Overview

Tempo Bank, A Federal Savings Bank has an overall health rating of "A" at DepositAccounts.com, with a Texas Ratio of 7.57% (excellent), as of September 30, 2014. In the past year, Tempo Bank has increased its total deposits by $1.11 Million, an above average annual growth rate of 1.53%. Please refer to our financial overview of Tempo Bank, A Federal Savings Bank for more details.

Founded in 1889, Tempo Bank (FDIC Certificate # 30615) has undergone much change and growth in its 125 years of operation. Tempo Bank’s "About Us" page sums it up this way:

Is it that important whether we have been called a "building and loan", a "savings and loan" or a "savings bank", or whether we have had a state or federal charter? Perhaps not. These things are historical and part of a business's corporate evolution and adjustment to change. What does matter, however, is that we are a corporation, comprised of friends, associates, neighbors and business acquaintances that has evolved and adjusted to change, remained independent, forward-thinking, and a conservative yet progressive mutual thrift institution. We have been around a long time and our corporate strategy today is based upon the accumulated staying power, recognition, community involvement and acceptance, trust, honesty and integrity.

How the CD Compares

When compared to similar length of term CDs tracked by DepositAccounts.com, with similar deposit requirements and available to Illinois residents, Tempo Bank’s 33-month Hip Pocket Special CD is clearly the frontrunner:

The above rates are accurate as of 12/31/2014.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.